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boxersam123 wrote:What broker do you use? do you use mbtrading? efxgroup?

MB Trading and EFX Group are one and the same. EFX is now MB Trading.I used to be with Alpari UK but now moved over to MB Trading.

boxersam123 wrote:How long did it take you do learn?

Forever?

I'm still learning now

But to give you a rough timeline:

25/09/2009: I signed up here and started reading through TRO's methods
02/10/2009: Switched from Alpari UK to MBT
13/10/2009: Changed account in MBT (from MT4 to MBT Navi)
20/10/2009: Went officially live (blog)

I was live the whole time actually, but that was when I was still practicing the method.

If that is your whole income then obviously you will have to pay income tax.If you trade on the side, then capital gains tax.

So far I have not withdrawn from my account at all so I have no experience with that yet.

boxersam123 wrote:Is it straight forward dealing with mbtrading whilst living in UK?

Dude, Forex is a 24-hour market. It does not matter if you're in Timbuktu or Machu Picchu as long as you have a decent broadband connection, and a reliable PC / laptop. That's all the equipment you need.

I personally had difficulties switching to the trading platform used by MBT, as I only used MT4 previously. But I am getting there.

boxersam123 wrote:Hows the bank balance are you winning with TRO's systems?

Check the first pages on this thread, I posted it there somewhere. I will be posting statistics after my 100th trade. I think I should have made around 20 trades now.

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boxersam123 wrote:Could you use the TRO systems on a spread betting companies platform?

I don't know anything about spread betting, sorry. TRO's indicators have been coded for the trading platform called MetaTrader. Most FX brokers use them.

Just curious, have you ever traded ever before? If not, I strongly suggest you demo trade first to get a feeling of how it actually works.

boxersam123 wrote:How would I go about starting up? What be the precidure?

- Learn and understand the basics of Forex trading
- Create or find a trading system that suits you
- Test your system until you believe it is working for you
- Create a trading plan (when, how, why you will enter and exit trades)
- Create a money management plan
- Develop disciplined trading habits (like stick to your trading rules, follow your money management plan, do not overtrade, always be objective and do not let your emotions cloud your judgement, etc)
- Trade according to your plan

But to be honest (and I am again speaking of experience), you will actually only learn when you make mistakes. Because once you make mistakes it will hurt you, as mistakes in trading cost money. When it hurts you will really not want to make the same mistakes again (unless your financially suicidal).

You can read all about the "how-to's" in trading until your eyes pop out, but the best teacher will always be Mr. Experience. Also, the whole approach is pretty much discretionary. When you ask 10 different traders about how they trade, you will get 11 different answers.

It's all about finding your own way really. Unfortunately, you will have to do this all by yourself, and this takes time (but then again, you never stop learning anyway, do you). There is no other way around it if you're really serious about trading.

All the best,
Ken.

PS
Also read some material about trading psychology. This is a very important aspect for us humans. I actually recall one mentor from the Online Trading Academy claim that trading is pretty much 90 % psychology and 10 % technique. There is a lot of truth in that.

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Price movement was slow today I almost fell asleep in front of the screen (last night's out drinking didn't help either).

Order took a while to get filled, as it rose up again at the open and stalled on my stop price. I was not able to trail the movements straight away as it looked like the market was not fully awake yet, so price was a bit sluggish.

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Alright. That's it. Messed up with my order entry again. I typed in a limit order of 1.645014 instead of 1.65014. So I missed the train again, that is why:

I am not drinking on school nights and trade the next day.I am not drinking on school nights and trade the next day.I am not drinking on school nights and trade the next day.I am not drinking on school nights and trade the next day.I am not drinking on school nights and trade the next day.I am not drinking on school nights and trade the next day.I am not drinking on school nights and trade the next day.I am not drinking on school nights and trade the next day.I am not drinking on school nights and trade the next day.I am not drinking on school nights and trade the next day.I am not drinking on school nights and trade the next day.I am not drinking on school nights and trade the next day.I am not drinking on school nights and trade the next day.I am not drinking on school nights and trade the next day.I am not drinking on school nights and trade the next day.I am not drinking on school nights and trade the next day.I am not drinking on school nights and trade the next day.I am not drinking on school nights and trade the next day.I am not drinking on school nights and trade the next day.I am not drinking on school nights and trade the next day.

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I have never traded forex. I spread bet indices and stocks. I have had some success. I know exactly what you mean though. You do have to learn by your mistakes. I have heard forex is tricky, but I will give it a go.

What platform to you think I should start with MBT, ALPARI,FXPRO?

Thanks buddy. Have a look at spread betting, I think you would like it. igindex.com is probably the best, plus its classed as gambling, so its tax free!!